41% of Small Businesses Lack an Emergency Backup Plan

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Leading small business finance company Reliant Funding surveyed small business owners to gain insight into sentiments on operations, business growth, business health and primary investment plans for 2018. The survey also revealed how they managed debt and savings, as well as their sentiment on alternative finance providers.

According to the survey, 41 percent of business owners report they do not have a financial backup plan in place in the event of an emergency. The majority of those who do have one, have between $10k – $25k in emergency savings. Considering recent natural disasters, businesses both directly and indirectly impacted by these events are facing the challenge of resorting to their financial back up plan.

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